Google launches mobile payments service dubbed ‘Tez’ for the Indian market

18 September 2017

As India is pushing heavily the policy of cashless society, Google is launching its special mobile payments application specifically tailored for the Indian market. Dubbed as ‘Tez’, this mobile payments app will allow customers to make money transfers each other and also pay for purchases both at physical stores and online.

The new application available immediately on Google Play and App Store supports eight languages spoken in India, including English, Hindi, Bengali, Gujarati and others. Tez application is compatible with the Indian Unified Payments Interface standard and enables the transfer of the funds directly from the accounts of the 55 participating Indian banks.

In its official statement Google noted that its goal is to replace cash by providing the same convenience as Indian customers feel with the notes and coins, making it possible for friends to share their bills, pay for purchases online and offline while also enabling P2P transfers. On the P2P end Tez offers ‘Cash Mode’ service based on Google’s proprietary audio QR technology which allows contactless transactions without sharing sensitive bank details or personal data.

Google also plans to introduce options for businesses to provide them with a special customized business channel integrated into the application, using which businesses will be able to reach their customers by sending smart notifications for recurring payments, advising them on new offerings, loyalty programs and rebates.